{"id":17352,"date":"2017-08-16T15:21:51","date_gmt":"2017-08-16T14:21:51","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352"},"modified":"2020-07-08T15:30:53","modified_gmt":"2020-07-08T14:30:53","slug":"buy-let-tax-fraud-costing-uk-government-one-billion-pounds-every-year","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352","title":{"rendered":"Buy-to-let tax fraud costing UK government one billion pounds every year"},"content":{"rendered":"<p>University of London professor, Richard Murphy, says that although it is perhaps impossible to calculate the exact figure, losses in undeclared tax from the buy-to-let sector could be as much as \u00c2\u00a31 billion annually.<\/p>\n<p>Murphy analysed figures produced by Newham Council, London, which revealed that half of the buy-to-let landlords within the borough were not registered for self assessment with HMRC. It was estimated that \u00c2\u00a3200 million of tax was not paid in London alone, as a result of the failure of landlords to register.<\/p>\n<p>HMRC has estimated a loss of \u00c2\u00a3550 million in tax per year across the whole of the country, but Murphy\u00e2\u20ac\u2122s larger figure comes from extrapolating Newham\u00e2\u20ac\u2122s data estimating higher returns for London than the rest of the UK.<\/p>\n<p>The loss of tax on rental income could be \u00c2\u00a3480 per property and would be unlikely to include unpaid capital gains tax. A previous study in 2011 suggested that, of 200,000 buy-to-let properties sold that year, only 52,000 were declared for CGT that year. While accepting that it was possible for some properties to be sold at a loss or have realised non-chargeable gains, Murphy felt that at least half of all gains were not disclosed.<\/p>\n<p>Murphy\u00e2\u20ac\u2122s criticism is directed solely at the government and his solution is to add a financial charge to landlords, all of whom he believes should be registered with HMRC.\u00c2\u00a0In his blog, Murphy says the negligence is \u00e2\u20ac\u0153by government who refuse to collect tax owing for dogmatic reasons. We all have a right to be very angry with them.\u00e2\u20ac\u009d<\/p>\n<p><a href=\"http:\/\/www.propertysurveying.co.uk\/INDEX\/INDEX1.html\">PropertySurveying.co.uk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>University of London professor, Richard Murphy, says that although it is perhaps impossible to calculate the exact figure, losses in undeclared tax from the buy-to-let sector could be as much as \u00c2\u00a31 billion annually. Murphy analysed figures produced by Newham Council, London, which revealed that half of the buy-to-let landlords within the borough were not &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Buy-to-let tax fraud costing UK government one billion pounds every year&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":22333,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[570],"class_list":["post-17352","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buy-to-let tax fraud costing UK government one billion pounds every year - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buy-to-let tax fraud costing UK government one billion pounds every year - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"University of London professor, Richard Murphy, says that although it is perhaps impossible to calculate the exact figure, losses in undeclared tax from the buy-to-let sector could be as much as \u00c2\u00a31 billion annually. 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Murphy analysed figures produced by Newham Council, London, which revealed that half of the buy-to-let landlords within the borough were not &hellip; Continue reading \"Buy-to-let tax fraud costing UK government one billion pounds every year\"","og_url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352","og_site_name":"Property Surveying NEWSLETTER","article_publisher":"https:\/\/www.facebook.com\/PropertySurveying","article_modified_time":"2020-07-08T14:30:53+00:00","twitter_misc":{"Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352","name":"Buy-to-let tax fraud costing UK government one billion pounds every year - Property Surveying NEWSLETTER","isPartOf":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#website"},"datePublished":"2017-08-16T14:21:51+00:00","dateModified":"2020-07-08T14:30:53+00:00","breadcrumb":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17352#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.propertysurveying.co.uk\/newsletter\/"},{"@type":"ListItem","position":2,"name":"Rental Sector","item":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=22333"},{"@type":"ListItem","position":3,"name":"Buy-to-let tax fraud costing UK government one billion pounds every year"}]},{"@type":"WebSite","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#website","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/","name":"Property Surveying NEWSLETTER","description":"The NEWSLETTER","publisher":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#organization","name":"Property Surveying NEWSLETTER","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#\/schema\/logo\/image\/","url":"https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/cropped-property-surveying-logo-for-newsletter-body-1.png","contentUrl":"https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/cropped-property-surveying-logo-for-newsletter-body-1.png","width":240,"height":50,"caption":"Property Surveying NEWSLETTER"},"image":{"@id":"https:\/\/www.propertysurveying.co.uk\/newsletter\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PropertySurveying"]}]}},"_links":{"self":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/17352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17352"}],"version-history":[{"count":0,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/17352\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=\/wp\/v2\/pages\/22333"}],"wp:attachment":[{"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17352"}],"wp:term":[{"taxonomy":"folder","embeddable":true,"href":"https:\/\/www.propertysurveying.co.uk\/newsletter\/index.php?rest_route=%2Fwp%2Fv2%2Ffolder&post=17352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}